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Chile international and Arsenal attacker Alexis Sanchez is set to put pen to paper on a contract extension deal worth £300,000 a week, this is according to report.

Sanchez like Mesut Ozil is in the final year of his current contract with Arsenal but he has stalled over a new deal with the Gunners, stirring speculations that he wants out of the club.

He has been heavily linked with a move to Manchester City, Bayern Munich and Paris Saint Germain but non of the aforementioned clubs have made offers for him. However, former French Champions are understood to be preparing a £35million for the Chilean but Wenger has dismissed the possibility of selling the star.

Manchester City have been the biggest spenders in the transfer window and Pep Guardiola was linked with a reunion to his former striker.

Nonetheless, the Gunners have woken up to the best of the summer as Daily Mail claim the Chilean may yet be staying put at the Emirates. Arsenal had reportedly offered Sanchez a £250k-a-week deal, but we understand that the Chilean was holding out for £300k-a-week, which the Gunners are now preparing to fork out in order to keep him at the club.

The Gunners believe Alexis Sanchez will consider his stance given the amount on offer for him.

Sanchez scored 30 goals in all competition for Arsenal last season but despite shattering record to sign Alexandre Lacazette, Sanchez remains Arsenal’s biggest weapon and so, Wenger cannot gamble on his future.